Consainsights logo
Mail Us
Reports > Life Sciences > Shingles Vaccines Market Report

Shingles Vaccines Market Size, Share, Industry Trends and Forecast to 2033

This report provides an in-depth analysis of the Shingles Vaccines market, focusing on market size, growth potential, and trends from 2023 to 2033. Key segments, regional insights, and forecasts are included to offer a comprehensive view of this evolving industry.

Metric Value
Study Period 2023 - 2033
2023 Market Size $3.50 Billion
CAGR (2023-2033) 7.5%
2033 Market Size $7.37 Billion
Top Companies Merck & Co., Inc., GlaxoSmithKline (GSK), Sanofi Pasteur, Pfizer Inc.
Last Modified Date 15 Nov 2024

Shingles Vaccines Market Report (2023 - 2033)

Shingles Vaccines Market Overview

The Shingles Vaccines industry is influenced by various factors including regulatory frameworks, technological advancements, and market demand driven by the aging population. Several major players dominate the market, continually investing in research and development for effective vaccines, which are crucial for combatting shingles. The shift towards preventive healthcare and growing government support for vaccination campaigns further enhance the industry's growth potential. Competition among manufacturers is intensifying as they aim to capture market share through innovative products and strategic partnerships.

What is the Market Size & CAGR of Shingles Vaccines market in 2023 and 2033?

In 2023, the global Shingles Vaccines market is estimated to be valued at approximately $3.05 billion, with a projected compound annual growth rate (CAGR) of around 8.2% over the next decade, reaching an estimated value of $6.42 billion by 2033. Factors contributing to this growth include an aging population, increasing healthcare expenditure, and greater awareness about the benefits of shingles vaccination. The continued development of vaccine formulations is also expected to stimulate market expansion.

Shingles Vaccines Industry Analysis

The Shingles Vaccines industry is influenced by various factors including regulatory frameworks, technological advancements, and market demand driven by the aging population. Several major players dominate the market, continually investing in research and development for effective vaccines, which are crucial for combatting shingles. The shift towards preventive healthcare and growing government support for vaccination campaigns further enhance the industry's growth potential. Competition among manufacturers is intensifying as they aim to capture market share through innovative products and strategic partnerships.

Shingles Vaccines Market Segmentation and Scope

The Shingles Vaccines market is segmented based on product type, administration route, age group, end-user, and distribution channel. Major segments include live vaccines, recombinant vaccines, and their respective routes of administration—namely, intradermal and subcutaneous. By age group, the focus is primarily on individuals 50 years and older due to their heightened risk of shingles. Understanding these segments is crucial for stakeholders aiming to tailor their strategies effectively according to market demand.

Request a custom research report for industry.

Shingles Vaccines Market Analysis Report by Region

Europe Shingles Vaccines Market Report:

Europe's market is projected from $1.06 billion in 2023 to $2.24 billion by 2033, influenced by strong vaccination policies and high healthcare expenditure among countries.

Asia Pacific Shingles Vaccines Market Report:

The Asia Pacific region shows a promising growth trajectory with a market size of $0.67 billion in 2023, expected to reach $1.42 billion by 2033. The rising population over 50, coupled with increasing healthcare infrastructure investment, is driving the demand for shingles vaccines.

North America Shingles Vaccines Market Report:

North America, the leading market, has a significant size of $1.21 billion in 2023, anticipated to grow to $2.54 billion by 2033. High awareness levels and extensive healthcare access are major growth drivers in this region.

South America Shingles Vaccines Market Report:

In South America, the market is relatively smaller, valued at $0.13 billion in 2023 and projected to be $0.26 billion by 2033. The adoption of vaccines is increasing due to health campaigns, although challenges such as distribution hurdles remain.

Middle East & Africa Shingles Vaccines Market Report:

In the Middle East and Africa, the market, valued at $0.43 billion in 2023, is expected to reach $0.91 billion by 2033. Growth is driven by improving healthcare systems and rising awareness about shingles vaccination.

Request a custom research report for industry.

Shingles Vaccines Market Analysis By Product

Global Shingles Vaccines Market, By Product Market Analysis (2023 - 2033)

Total market for live vaccines is expected to reach $6.42 billion by 2033, maintaining an 87.17% share across the years, while recombinant vaccines are projected to increase from $0.45 billion to $0.95 billion by 2033, representing a smaller yet significant portion.

Shingles Vaccines Market Analysis By Administration Route

Global Shingles Vaccines Market, By Administration Route Market Analysis (2023 - 2033)

IIntradermal routes accounted for $3.05 billion in 2023 and are projected to rise to $6.42 billion by 2033, while subcutaneous routes, currently $0.45 billion, are expected to reach $0.95 billion.

Shingles Vaccines Market Analysis By Age Group

Global Shingles Vaccines Market, By Age Group Market Analysis (2023 - 2033)

The market for individuals aged 50 years and older is expected to reach $6.42 billion by 2033, while the market for those under 50 years is anticipated to grow from $0.45 billion to $0.95 billion.

Shingles Vaccines Market Analysis By End User

Global Shingles Vaccines Market, By End-User Market Analysis (2023 - 2033)

Hospitals remain the primary end-user segment, growing from $2.27 billion in 2023 to $4.77 billion by 2033, while pharmacies and clinics also contribute to increasing market sizes of $1.57 billion and $1.03 billion respectively.

Shingles Vaccines Market Analysis By Distribution Channel

Global Shingles Vaccines Market, By Distribution Channel Market Analysis (2023 - 2033)

Direct sales dominate the distribution channel, expected to grow to $4.77 billion by 2033, while online sales and retail pharmacies are projected to achieve significant market sizes of $1.57 billion and $1.03 billion respectively.

Request a custom research report for industry.

Global Market Leaders and Top Companies in Shingles Vaccines Industry

Merck & Co., Inc.:

Merck is a leading player in the Shingles Vaccines market, known for its Zostavax and Shingrix vaccines, which address the rising need for shingles prevention.

GlaxoSmithKline (GSK):

GSK manufactures Shingrix, a highly effective vaccine that has contributed significantly to the market's growth and is recognized for its efficacy in preventing shingles.

Sanofi Pasteur:

Sanofi Pasteur is involved in developing vaccines aimed at providing immunization against herpes zoster and is expanding its presence in several regions.

Pfizer Inc.:

Pfizer is actively engaged in research for innovative vaccine solutions including those for shingles, contributing to the overall market development.

We're grateful to work with incredible clients.

Datasite
Agilent
Asten Johnson
Bio-Rad
Carl Zeiss
Dywidag
Illumina
LEK Consulting
Shell

Related Industries

    FAQs

    Want a Customized Shingles Vaccines Market Research Solution?

    Fill out the form and we will send you a free sample report showing you the current Shingles Vaccines market insights and top leaders in the industry.